NOV Inc. (NYSE:NOV) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its stake in NOV Inc. (NYSE:NOV - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,187,218 shares of the oil and gas exploration company's stock after purchasing an additional 91,080 shares during the period. Rhumbline Advisers owned 0.32% of NOV worth $18,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Huntington National Bank lifted its stake in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after buying an additional 1,034 shares during the period. Covestor Ltd raised its stake in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after acquiring an additional 1,655 shares during the last quarter. Signaturefd LLC lifted its position in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after acquiring an additional 756 shares during the period. CoreFirst Bank & Trust purchased a new stake in NOV during the 4th quarter valued at about $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of NOV in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

NOV Price Performance

Shares of NOV stock traded up $0.25 on Monday, reaching $12.87. 3,221,921 shares of the company were exchanged, compared to its average volume of 3,992,337. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The business has a 50-day moving average price of $12.31 and a 200 day moving average price of $14.08. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 1.02 and a beta of 1.28.

NOV (NYSE:NOV - Get Free Report) last announced its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. NOV's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. Equities research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.21 per share. This represents a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, June 2nd. NOV's payout ratio is 20.00%.

Analyst Ratings Changes

NOV has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Morgan Stanley decreased their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wells Fargo & Company cut their price objective on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price target on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, Piper Sandler lowered their target price on NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, NOV presently has an average rating of "Hold" and an average price target of $17.44.

NOV Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.